Annuity Contract: What It Means and How It Works
Annuity Contract: What It Means and How It Works
Jul 15, 2024
investopedia.com
What is an Annuity? An annuity is a financial contract where you pay money or pledge something of value, and in return, you receive payments over time (usually for life). • In law/commerce: An annuity is a specialty debt under seal — a binding promise of periodic payments, usually backed by a pledge or collateral. Think of it as: “a stream of income created by pledging an asset.” 1. Birth/Baptism Certificates = Securities • These certificates were used as financial evidence for annuities. • They
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